TikTok is the fastest-growing social media site in the world. The app has taken the world of social media by surprise. After its debut, the app store has been downloaded more than 1.5 billion times. There are already more than 800 million active users on the web per month.
With TikTok getting more popular, people are asking if the site can be monetised. Platform developers are wondering if they should make money off their videos.
Just like other video sharing sites such as YouTube and Instagram, You can monetise TikTok. Although the platform may not yet have a mechanism to make money from your videos, you can still use a range of techniques to make money on the site.
Since the network is still relatively young, there’s not a lot of competition yet. A lot of people are also struggling to grasp the viral video site. That’s why I’ve written this thorough guide to help you get started right away.
If you’re curious how you can make money out of TikTok, then you probably want to read this post.
The First Step is to become an influencer on Tik Tok.
Like other famous social media sites, one of the ways you can make money on TikTok is by being an influencer.
Although it’s not an easy feat to become an influencer, it’s certainly worth the effort. According to Forbes estimates, the most famous TikTok stars have raked in millions in the past year. Rae Addison, with over 54 million followers, was the most influential TikTok star. She generated an income of over $5 million over 12 months. Charlie D’Amelio (77 million followers) places second with an estimated $4 million. Charlie’s sister ranks seventh, winning an estimated $2.9 million in the same period.
Now, the question is, do you need millions of followers before you can become a TikTok influencer?
Although numbers matter, follower count is not an essential measure that advertisers use when selecting influencers to partner with. Most marketers are looking at the number of committed fans. An influencer with 20,000 followers may have a more active audience than an influencer with 100,000 followers. Another fascinating fact is that most marketers tend to work with a micro-influencer (influencers with a few hundred to 20,000 followers). Although influencers with millions of followers will attract a more significant number of people, they can be very costly. In total, all you need to be an influencer is a few thousand committed fans.
The Second Method of making money with Tik Tok is to grow and sell your accounts.
Another way to make money out of TikTok is by rising and selling TikTok accounts.
This is already popular with Instagram. Instagram users, including 23-year-old Ramy Halloun, earn $30,000 annually by switching Instagram pages.
You can duplicate this technique on TikTok.
Find a niche to get started and start making fascinating content around it. After your account to a certain amount of followers and loyalty, you will reach out to the brands in that industry and sell the TikTok profile.
The most easy-to-sell accounts are theme accounts. It’s tougher to sell personal statements because new buyers can’t quickly repeat them. You can quickly locate customers with a themed account. The followers of the profile are dedicated to history because of its theme. They do not even note a shift of ownership.
For example, if you build a TikTok account for videos of famous travel destinations and experiences, you can quickly sell your profile to any business providing travel services. You can do this with other sectors like fashion, health, health, makeup, etc.
The key is to build an account with quality content. The further followers the TikTok account has, the higher the price you will sell it for.
The Third way to make money with Tik Tok is to collect donations.
You will make money from TikTok by raising donations from your viewers on Livestream. TikTok enables developers to create virtual gifts of monetary value via Livestream.
Here’s how it works:
Who will buy coins and presents for you?
Any person who is 18 years can buy coins and gifts from their profile. You can see the price of coins and presents at the point of order. If you have bought the coins, they will be added to your account.
The Fourth Method is to run an Influencer Agency.
You will make money on TikTok by handling influencers and campaign influencers. There are also a lot of influencer agencies on Instagram. It would be best if you did the same thing with TikTok.
Your influencer agency will help advertisers strategize, implement and execute promotions with the influencers of TikTok. Your agency will act as an intermediary between the influencers and the brands asking for their services. You’re going to help marketers identify the right influencers to partner with. You will go a step forward by developing a social media campaign to fulfil the brand’s objectives.
The fifth method is to become a Tik Tok Consultant.
If you’re a TikTok specialist, there are many brands and even individuals who will pay for your services.
If you know how to get thousands or millions, of views on your videos, you will show others how to do the same for a consultancy fee. Influencers will also provide advisory services. It’s a smart way to maximise your skills and diversify your profits as well.
Sean Young is an excellent example of a consultant for TikTok. He considers himself a technical consultant for TikTok. He earns $10,000 a month to counsel celebrities and companies about the right content for their brands.
It’s got money to be made. So, if you already understand the site and have a track record for making high engagement viral videos, you should educate people on how to do it.
TikTok is one of the fastest-growing social media sites in the world. There are a lot of ways to make money on TikTok. From endorsed posts to selling your products on the website. The trick is to regularly produce quality content that your fans can enjoy and participate in.